AMI Asset Management Corp cut its holdings in LogMeIn Inc (NASDAQ:LOGM) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,446 shares of the software maker’s stock after selling 1,309 shares during the quarter. AMI Asset Management Corp’s holdings in LogMeIn were worth $1,998,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Reliance Trust Co. of Delaware acquired a new position in shares of LogMeIn in the third quarter valued at about $201,000. Stephens Inc. AR acquired a new position in shares of LogMeIn in the third quarter valued at about $202,000. M&T Bank Corp increased its holdings in shares of LogMeIn by 1.8% in the second quarter. M&T Bank Corp now owns 2,104 shares of the software maker’s stock valued at $219,000 after purchasing an additional 37 shares during the period. Sciencast Management LP acquired a new position in shares of LogMeIn in the second quarter valued at about $254,000. Finally, Turner Investments LLC acquired a new position in shares of LogMeIn in the third quarter valued at about $275,000. Institutional investors own 99.25% of the company’s stock.
A number of research analysts have recently weighed in on LOGM shares. Zacks Investment Research lowered LogMeIn from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Robert W. Baird raised LogMeIn from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a report on Tuesday, October 3rd. Piper Jaffray Companies reissued a “buy” rating and issued a $170.00 price objective on shares of LogMeIn in a report on Tuesday, October 24th. Barclays increased their price objective on LogMeIn from $132.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Finally, Cowen reissued a “buy” rating and issued a $145.00 price objective on shares of LogMeIn in a report on Sunday, October 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $136.52.
In related news, insider Christopher Battles sold 1,136 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total transaction of $135,672.48. Following the sale, the insider now directly owns 2,760 shares of the company’s stock, valued at $329,626.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.
Shares of LogMeIn Inc (NASDAQ LOGM) opened at $119.40 on Wednesday. The company has a market capitalization of $6,280.00, a PE ratio of 1,085.45, a P/E/G ratio of 1.72 and a beta of 1.29. LogMeIn Inc has a 1-year low of $90.35 and a 1-year high of $129.51.
LogMeIn (NASDAQ:LOGM) last posted its earnings results on Thursday, October 26th. The software maker reported $1.16 EPS for the quarter, topping the consensus estimate of $1.11 by $0.05. The firm had revenue of $269.30 million for the quarter, compared to analyst estimates of $270.56 million. LogMeIn had a return on equity of 5.50% and a net margin of 1.01%. LogMeIn’s revenue for the quarter was up 216.5% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. research analysts predict that LogMeIn Inc will post 3.28 EPS for the current fiscal year.
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LogMeIn Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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